Unintended Consequence #942…. tell AIG it can’t pay its executives market rate wages, the former head of AIG will start up a new company not funded by TARP money, steal away the best employees, the customers and the business – and leave Tim Geither and Barney Frank holding an empty shell of a company with no possible way to ever earn back the money the U.S. Treasury gave them.
Put on even more pressure, they’ll just move most of the business offshore to places beyond the reach of the U.S. Government.
http://www.nytimes.com/2009/10/27/business/27aig.html?_r=1&hp
Good for him. Let’s see the treasury get that money back from people paid in peanuts. Or these days maybe that should be acorns.
How many examples of unintended consequences of government interference do we need to see before people realize that it’s *always* a bad idea for our “leaders” to intervene? One would think that these oft repeated scenarios, just about a daily occurance, would at least cause 90% of our people to balk at government health care.